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Thu 10 Jul 2003, 15:04 EC-Hold Limited - Further Cautionary Announcement
EC-Hold Limited                                                                 
Registration number 1998/020093/06                                              
Share code: ECH                                                                 
ISIN code: ZAE000016705                                                         
("EC-Hold" or "the company")                                                    
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Shareholders are referred to the previous cautionary announcements of 19 May    
2003, 31 March 2003 and 10 March 2003. MGX Holdings Limited ("MGX") is at       
present considering its alternative courses of action that could be taken as a  
result of the Securities Regulation Panel ruling of 19 March 2002. Accordingly, 
EC-Hold shareholders are advised to continue to exercise caution when dealing in
their shares until a further announcement is made.                              
Johannesburg                                                                    
10 July 2003                                                                    
Sponsor                                                                         
Brait
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